Pacad Investment Ltd. bought a new position in PTC Inc. (NASDAQ:PTC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,100 shares of the technology company’s stock, valued at approximately $226,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in PTC by 10.0% in the first quarter. Toronto Dominion Bank now owns 2,475 shares of the technology company’s stock valued at $130,000 after purchasing an additional 225 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in PTC in the first quarter valued at approximately $132,000. US Bancorp DE increased its stake in PTC by 56.2% in the second quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock valued at $144,000 after purchasing an additional 937 shares in the last quarter. Flinton Capital Management LLC increased its stake in PTC by 9.1% in the first quarter. Flinton Capital Management LLC now owns 3,456 shares of the technology company’s stock valued at $182,000 after purchasing an additional 288 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in PTC in the first quarter valued at approximately $189,000. 98.15% of the stock is owned by institutional investors.
In other PTC news, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total transaction of $123,215.40. Following the transaction, the executive vice president now directly owns 22,228 shares of the company’s stock, valued at approximately $1,242,100.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James E. Heppelmann sold 25,000 shares of PTC stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.27, for a total transaction of $1,381,750.00. Following the transaction, the insider now directly owns 561,022 shares in the company, valued at $31,007,685.94. The disclosure for this sale can be found here. Insiders have sold a total of 65,329 shares of company stock valued at $3,588,097 in the last 90 days. 1.02% of the stock is currently owned by company insiders.
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PTC Inc. (NASDAQ:PTC) opened at 56.27 on Wednesday. PTC Inc. has a one year low of $42.91 and a one year high of $60.22. The company’s 50-day moving average is $54.69 and its 200 day moving average is $55.04. The firm’s market cap is $6.51 billion.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.28. The business had revenue of $291.92 million during the quarter, compared to analyst estimates of $290.55 million. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. PTC’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. Equities analysts anticipate that PTC Inc. will post $1.20 earnings per share for the current year.
PTC has been the subject of several research analyst reports. Benchmark Co. initiated coverage on shares of PTC in a report on Thursday, May 18th. They issued a “buy” rating and a $65.00 price target for the company. Pacific Crest upped their price target on shares of PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of PTC in a report on Monday, July 17th. They issued a “neutral” rating and a $62.00 price target for the company. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $68.00 price target on shares of PTC in a report on Thursday, July 20th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $65.00 price target (down previously from $67.00) on shares of PTC in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $62.65.
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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